Coin collection is not just about having as many coins as possible. More important than the number of coins is the quality of those coins. This quality is measured by the coins? grade and the grade is measured using a scale from zero to seventy (seventy being the highest point grade). Doctor William Shelby introduced this point scale in his work ?Penny Whimsy?.
Here are the classifications of coins according to grade.
1. ?Mint State? Coins
This is equivalent to a value of 60 to 70 in the Shelby?s grade scale. This means that the coin has no blemishes whatsoever. Most of the coins in this category are uncirculated, shiny, new coins, with absolutely no signs of wear.
2. ?Almost Uncirculated? Coins
The ?Almost Uncirculated? coins have a point grade of 50, 55, or 58.
It is very important to note that in these coins, coin collectors must know the locations of the high points in a particular coin. By checking the difference of the light reflected in the high points to the other parts of the coin, an ?Almost Uncirculated? coin is separated from the Mint State coins.
3. ?Fine Coins?
These can further be classified as? Extremely Fine? (40, 45), ?Very Fine? (20, 25, 30, and 35) or ?Fine? (12) depending on the sharpness of the remaining details on the coins. The coins are observed to have wear but the designs are still intact.
For ?Extremely Fine? coins, the mint luster is still present.
?Very Fine? coins can be compared to coins which have been used for 1-3 years. Minor features of the coins are already gone.
4. ?Good Coins?
These coins can be specifically defined as ?Very Good? (12), ?Good? and ?Almost Good? coins.
The coins in this category are worn out. Only weak designs can be observed since the details of the coins in the high points are nearly smooth.
Full rims must be observed for the ?Very Good? coins category.
In the case of ?Good? coins, the mint mark and the date must be visible.
On the other hand, ?Almost Good? coins are the most worn of coins in this category.
5. ?Fair Coins?
The coins are ?worn out?, but can still be distinguished as belonging to one of the types of coins - as long as one can identify a coin, it is a ?Fair C?.
6. ?Basal Coin?
These metals that can be determined to be coins - but the kind of coin are undeterminable.
With the classifications described, it will be very easy to grade coins. Just remember that knowledge of the coins? grades gives coin collectors advantages!
Coin collecting is not as simple as keeping coins: it may be observed from numismatists or even coin enthusiasts that it is a systematic and somewhat complicated hobby. Certain tools must be employed to ensure both fun, discipline and to some extent, good profit.
Here are some of the essential things that must be included in the coin collecting kit.
1. Coin Guides
Coin guides should be used, not just by beginners, but by professional coin collectors as well.
Coin guides give tips on how to start, as well as special instructions on how to proceed with the hobby of coin collecting.
They also provide information on coins, since different coins have different ways of grading, pricing, etc.
It is recommended you read guides before doing starting the hobby to avoid making wrong decisions caused by lack of information.
2. Coin Inventory Record
All items in your collection must be accounted for properly. Information like year, face value, grade, cost, trend, and remarks must always be available for reference.
Inventory Records also help in organizing coin collections. It eliminates the redundancy of coins in the collection by showing the collectors at a glance the items in his collection.
Coin collectors do have options in the method to be used in recording coin information. They may choose the traditional paper-and-pen method, or may use coin collecting software.
3. Coin Containers
To avoid damaging the coins, it is recommended to invest in holders and containers that will give adequate protection.
Just remember that coins react to certain chemicals such as sulfur present in paper and PVC from plastic it is not advisable to use such materials for long-term storage.
4. Silica Gel
The use of silica gel packets is important to maintain the moderate temperature, low humidity atmosphere conducive to coin preservation.
5. Magnifying Glass
Magnifying glasses are a great help when it comes to coin grading. Most numismatists recommend using a 7x magnification, but generally, magnification between 4x to10x will do the job.
The magnifying glass is a great aid in examining the quality and authenticity of the coins. Details like hairlines or scratches, which are not visible to the naked eye, are ?big deals? when it comes to coin collecting as they affect the value of coins.
6. Lamp
A light source must be placed half a meter away from the workspace. Recommended light for this purpose may be a halogen lamp, or simply a 75-watt incandescent lamp.
7. Handling equipment
Finger marks reduce the grade of the coins. That is why serious collectors invest in surgical gloves and velvet pads to use when handling coins.
Now our basic coin collecting kit is complete. Enjoy!
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